St Kitts and Nevis is becoming so popular with wealthy Indians seeking a second passport through their Citizen by Investment (CIB) programme that fraudsters are misrepresenting themselves to unsuspecting applicants.
Launched in 1984, the St Kitts and Nevis’ citizenship by investment programme is the oldest of its kind in the world.
For Indian investors, particularly those that want to conduct business overseas efficiently, citizenship can be a challenge to seizing opportunities in a time-effective manner. An Indian passport only affords its holders visa-free or visa-on-arrival access to 58 countries and territories. This lack of mobility has left many Indians wasting time, money and opportunities due to bureaucratic hassle. Indians have assimilated into St Kitts culture and many join with the annual carnival celebrations.
A powerful second passport offers many benefits but potential investors and high-net worth individuals are falling prey to fake agents, said Justin Hawley, the ambassador of St Kitts and Nevis to the United Arab Emirates.
Successful applicants are provided with visa-free access to 157 countries around the world, including important business hubs in European Union member states, the United Kingdom and Asia. An applicant has to invest at least US$150,000 to qualify. Hawley said the interested investors must do diligent research to check for valid agents.